Issue - meetings

To submit a report by the Director of Function (Resources)/Section 151 Officer.

It was resolved to note the following –

·        The position set out in respect of the financial performance of the Housing Revenue Account (HRA) for Quarter 2 2021/22.

·        The forecast outturn for 2021/22.

The report of the Director of Function (Resources)/Section 151 Officer setting out the financial performance of the Housing Revenue Account (HRA) Budget for Quarter 2 2021/2022 was presented for the Executive’s consideration.

The Portfolio Member for Finance reported that the HRA is ring-fenced and its reserves cannot be transferred to the General Fund.

The Director of Function (Resources)/Section 151 Officer reported that the pandemic has delayed the ability to procure former Council houses and delays in the new build programme caused by delays and shortages of materials.  The HRA surplus/deficit at the end of Quarter 2 shows an overspend of £363k compared to the profiled budget.  The Capital expenditure is £1,518k below the profiled budget. 

It was resolved to note the following –

·        The position set out in respect of the financial performance of the Housing Revenue Account (HRA) for Quarter 2 2021/22.

·        The forecast outturn for 2021/22.